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    <a href="/home"><?php echo __('Home') ?></a>&nbsp;»&nbsp;<a href="/education"><?php echo __('Education') ?></a>&nbsp;»&nbsp;<?php echo __('Trading Guides') ?>
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    <div id="innertopic"><?php echo __('Trading Guides') ?></div>
    <ul id="pagetab-lv3">
      <li class="on mgrt2"><?php echo __('Fundamental Analysis') ?></li>
      <li class="mgrt2"><?php echo __('Technical Analysis') ?></li>
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      <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;font-family:Arial;white-space:normal;background-color:#FFFFFF;line-height:24px;">
        <strong><span style="font-size:14px;"><?php echo __('1. what is the fundamental analysis') ?></span></strong><br>
        <?php echo __('Fundamental analysis is the basic factor based market trend prediction method. Fundamental analysis starting from the macroeconomic point of view, focuses on the analysis of economic, political and environmental factors such as basic, economic statistics, economic indicators and the central bank policy. Unlike technical analysis, fundamental analysis focuses on how to price changes, rather than the price has changed.') ?>
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      <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;font-family:Arial;white-space:normal;background-color:#FFFFFF;line-height:24px;">
        <strong><span style="font-size:14px;"><?php echo __('2. Important economic data') ?></span></strong><strong><span style="font-size:14px;"></span></strong>
      </p>

      <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;font-family:Arial;line-height:20px;white-space:normal;background-color:#FFFFFF;">
        1)&nbsp;<?php echo __('Economic activity') ?>
      </p>

      <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;font-family:Arial;line-height:20px;white-space:normal;background-color:#FFFFFF;">
        ●&nbsp;<strong><?php echo __('Gross domestic product') ?></strong>
      </p>

      <p style="margin-top:0px;margin-bottom:0px;margin-left:10px;padding:10px 0px;outline:0px;font-family:Arial;line-height:20px;white-space:normal;background-color:#FFFFFF;">
        <?php echo __('Gross domestic product (GDP) refers to the specified period of time, a country or economic area, the total production value of goods and services, can reflect the rise and fall of the economic system and active. Gross domestic product is the most important index of national economic activity, if the higher than expected GDP data, usually good the countrys currency pairs, stimulate the exchange rate rise, on the contrary, it will be bad for the currency exchange rates, cause.') ?>
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        ●<strong>&nbsp;</strong><strong><?php echo __('Leading indicators') ?></strong>
      </p>

      <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;font-family:Arial;line-height:20px;white-space:normal;background-color:#FFFFFF;">
        <?php echo __('Leading indicators to measure economic factors that precede the whole cyclical, can predict the overall economic output and activity level of. Is an important indicator to measure the steady growth of national economy. If the data released better than expected, will stimulate the market risk appetite, good and bad hedge currency risk currency.') ?>
      </p>

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        ●&nbsp;<strong><?php echo __('Durable goods orders') ?></strong>
      </p>

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        <?php echo __('Durable goods orders refers to is not easy to wear and tear of the purchase order, durable goods are usually can be used more than three years of goods, such as TV, automobile etc.. Through the orders for durable goods data, reflect the level of optimism the active degree and the consumer on the countrys manufacturing. Durable goods orders and economic activity have a certain relationship, because the economy is weakening, the public will be first to reduce the consumption of durable goods, so the data play a decisive role. If the durable goods orders growth, said manufacturing performance is good, the good of the countrys currency. On the contrary, bad in the currency of.') ?>
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        ●&nbsp;<strong><?php echo __('Consumer confidence index') ?></strong>
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        <?php echo __('Consumer confidence index survey of peoples consumption attitude, can fully reflect consumer confidence and the future economic expectations. A high level of consumer confidence index, can be expected to increase consumption or future, promote economic development, conducive to the exchange rate. On the contrary, bad in the currency of.') ?>
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        2)&nbsp;<strong><?php echo __('Trade situation') ?></strong>
      </p>

      <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;font-family:Arial;line-height:20px;white-space:normal;background-color:#FFFFFF;">
        ●&nbsp;<?php echo __('The balance of international trade') ?>
      </p>

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        <?php echo __('The balance of international trade is a country in a certain period of time all foreign economic trade general record, including commodities and service trade, capital flows and unilateral transfers. Import and export data to predict the foreign and domestic products and services. When a country trade surplus, which represents the countrys currency to rising demand, stimulate the exchange rate to rise, on the contrary, it will be bad for the currency exchange rates, cause.') ?>
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      <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;font-family:Arial;line-height:20px;white-space:normal;background-color:#FFFFFF;">
        3) <strong><?php echo __('Employment') ?></strong>
      </p>

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        ●&nbsp;<?php echo __('The unemployment rate') ?>
      </p>

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        <?php echo __('Unemployment is unemployment ratio of the labour force, reflect the employment situation of countries. If the unemployment rate increase, indicating that the countrys employment markets, economic activity is not as ideal, the currency exchange rate on the bad, have reduced the possibility of, opposite to the currency to stimulate positive, the exchange rate to.') ?>
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        ●&nbsp;<?php echo __('Non farm employment data') ?>
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        <?php echo __('Non farm employment data is the statistics of the increase in employment outside the agricultural employment, is released simultaneously with the unemployment rate. The data can reflect the manufacturing and service industry growth, reflecting the employment market live at the same time, will also reflect the production activities. If the non farm payrolls rise, reflecting the economic upward, is conducive to the exchange rate rise, but decline.') ?>
      </p>

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        4)&nbsp;<strong><?php echo __('Price level') ?></strong>
      </p>

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        ●&nbsp;<?php echo __('The consumer price index') ?>
      </p>

      <p style="margin-top:0px;margin-bottom:0px;margin-left:10px;padding:10px 0px;outline:0px;font-family:Arial;line-height:20px;white-space:normal;background-color:#FFFFFF;">
        <?php echo __('The consumer price index reflects the retail level price changes and observe the rate of inflation index. Calculated on the basis of the consumer price index is a typical consumers buy a basket of goods and services, and through the collection and comparison of fixed commodity price changes for. Investors through the consumer price index to measure inflation, inflation is higher, can be prompted authorities to enhance the level of interest rates, to control inflation, high interest rates to attract more foreign capital, money demand rises, the currency appreciation.') ?><br>
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        ●&nbsp;<?php echo __('Producer price index') ?>
      </p>

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        <?php echo __('The producer price index is a measure of industrial product factory price change trend and variation index, is an important economic index reflects a period of production price changes, but also an important basis to establish the relevant economic policy and national economic accounting.') ?><br>
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        <strong style="margin:0px;padding:0px;outline:0px;"><?php echo __('3. The central bank policy') ?></strong>
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        <?php echo __('In addition to pay attention to the important economic data, investment must also focus on the central banks dynamic. The central bank is the central bank, the main body responsible for the country or the regional monetary policy, usually gives the formulation or implementation of monetary policy authority. The central bank for monetary policy, have a direct impact on the macro economic activity or inflation, thus affecting the exchange rate changes. The United States Federal Reserve Board and the European Central Bank is the world famous Central Bank policies, far-reaching influence, such as the United States Federal Reserve interest rate decision by the global attention, such as interest rates, the dollar will on the non beautiful currency rise, but bad news for the dollar.') ?><br>
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    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;font-family:Arial;white-space:normal;background-color:#FFFFFF;line-height:24px;">
      <strong style="margin:0px;padding:0px;outline:0px;"><?php echo __('1. What is the technical analysis') ?></strong>
      <br style="margin:0px;padding:0px;outline:0px;">
      <?php echo __('Study on technical analysis is a kind of financial market behavior, through the chart to analysis to determine whether a financial product price trends in stages, as well as the relationship between supply and demand changes, to trading in the financial products.') ?>
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    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;font-family:Arial;white-space:normal;background-color:#FFFFFF;line-height:24px;">
      <?php echo __('Analysis of market research is based on three assumptions based techniques: prices reflect all information, prices always exist trend, human nature is always the same. Financial market is the market efficiency, financial market trading behavior is driven by the underlying information, whether published or not to the public information. Because institutional traders in retail traders access to information more timely, and therefore the sale of their behavior has fully reflected in prices. Technical analysis is not concerned about what causes the price rise or drop, but only on the price of financial products, the trend of the state.') ?>
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      <strong style="margin:0px;padding:0px;outline:0px;"><?php echo __('2. Used in technical analysis indicators') ?></strong>
    </p>

    <div class="payment_menu" style="margin:0px;padding:0px;outline:0px;height:80px;font-family:Arial;line-height:20px;white-space:normal;background-color:#FFFFFF;">
      <a href="#a1" class="payment_btn" style="margin:0px 20px 0px 0px;padding:0px;outline:0px;color:#666666;text-decoration:none;width:115px;height:40px;display:block;float:left;font-size:14px;text-align:center;line-height:40px;background-image:url(/images/btn.jpg) !important;background-position:initial initial !important;background-repeat:no-repeat no-repeat !important;">1) MA</a>
      <a href="#a2" class="payment_btn" style="margin:0px 20px 0px 0px;padding:0px;outline:0px;color:#666666;text-decoration:none;width:115px;height:40px;display:block;float:left;font-size:14px;text-align:center;line-height:40px;background-image:url(/images/btn.jpg) !important;background-position:initial initial !important;background-repeat:no-repeat no-repeat !important;">2) MACD</a>
      <a href="#a3" class="payment_btn" style="margin:0px 20px 0px 0px;padding:0px;outline:0px;color:#666666;text-decoration:none;width:115px;height:40px;display:block;float:left;font-size:14px;text-align:center;line-height:40px;background-image:url(/images/btn.jpg) !important;background-position:initial initial !important;background-repeat:no-repeat no-repeat !important;">3) RSI</a>
      <a href="#a4" class="payment_btn" style="margin:0px 20px 0px 0px;padding:0px;outline:0px;color:#666666;text-decoration:none;width:115px;height:40px;display:block;float:left;font-size:12px;text-align:center;line-height:40px;background-image:url(/images/btn.jpg) !important;background-position:initial initial !important;background-repeat:no-repeat no-repeat !important;">4) Bollinger Bands</a>
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    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      <strong style="margin:0px;padding:0px;outline:0px;"><?php echo __('1) Moving Average (MA)') ?></strong>
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    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      <?php echo __('Moving average price will be different for a period of time of average as a trend indicators, moving average line did not predict the price trend direction, but postponed to summed up the current price trend. The use of past price moving average line, so its trend is delayed, the price change leads to the moving average trend. Moving average is a key basis for many other technical indicators generated, for example, Bollinger Bands, MACD and McClellan Oscillator. The two moving average is the most common simple moving average (SMA) and exponential moving average (EMA). The moving average line can be used to determine the direction of the trend and the support and resistance.') ?>
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    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      ●&nbsp;<?php echo __('SMA vs. EMA') ?>
    </p>

    <p style="margin-top:0px;margin-bottom:0px;margin-left:10px;padding:10px 0px;outline:0px;">
      <?php echo __('Although the calculation mode of SMA and EMA has the very big difference, but not a kind of a bad. EMA delay decreases, can change more timely reflect the price. SMA is a reflection of the real price for a period of time. So, SMA as support and resistance may be more appropriate.') ?>
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      <?php echo __('With the moving average line will be different according to objective analysis, style and different time and different. Analysts should continue to apply the pattern of the 2 moving average to find the most suitable for their.') ?>
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    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      ●&nbsp;<?php echo __('Trend validation') ?>
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    <p style="margin-top:0px;margin-bottom:0px;margin-left:10px;padding:10px 0px;outline:0px;">
      <?php echo __('Trading signals SMA and EMA is the same. The moving average line direction to convey important information on prices. The moving average line of a rise in the general expression of the price is on the rise. On the contrary, the moving average line of a decrease in the price is falling. Long term moving average line of a rise in the expression of the rising prices in the long term. On the contrary, the long-term moving average line a decline in price in the long term is in decline. From the figure can be found, when prices break through the green the 60 day moving average upward, price price out of the clear upward trend.') ?>
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    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      ●&nbsp;<?php echo __('The use of double moving average line') ?>
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    <p style="margin-top:0px;margin-bottom:0px;margin-left:10px;padding:10px 0px;outline:0px;">
      <?php echo __('Intersection point moving average line using 2 different length of time can obtain the trading signals. This is also known as the double moving average. Double moving average line contains a fast and a slow line. When the fast line from the bottom up through the slow line, as the signal to do more ("金叉" golden cross). When the fast line down through the slow line, as a short signal ("average" dead cross). For a long time, once the short signal, settlement long positions and short positions. Short, once appear bullish, settlement of short positions, and to establish long positions.') ?>
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    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      ●&nbsp;<?php echo __('The use of multiple moving average') ?>
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      <?php echo __('The three moving average line composite moving average usage in common. Different from the double moving average, three moving average increased by a moderate line. In the daily express,: moving average time shorter, for example the 5 day moving average, 10 day moving average. Medium speed wire: Duan Shi time between short-term and long-term, for example the 60 day moving average line. The slow line: moving average line of a longer period of time, such as the 120 day moving average, 240 day moving average. The three moving average trading method, which speed line from the bottom up through the slow line, as the signal to do more ("金叉" golden cross). Among the fast line down through the slow line, as a short signal ("average" dead cross). For a long time, once the express from the top down through the middle line, clearing a long position. Short, once the express from the bottom up through the middle line, settlement of short positions. Long: express in the medium above the line, middle line above the slow line. In short order: express speed line, middle line under the slow line.') ?>
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      <strong style="margin:0px;padding:0px;outline:0px;"><?php echo __('2) Moving Average Convergence and Divergence (MACD)') ?></strong>
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    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;font-family:Arial;line-height:20px;white-space:normal;background-color:#FFFFFF;">
      <?php echo __('MACD by Gerald Appel method, is one of the most commonly used indicators in technical analysis. From the index name can be seen, MACD is a kind of derivative use moving average line, so the main purpose of the MACD is the trend analysis and judgement. Secondly, because the MACD is calculated between the moving average line transceiver, so MACD is mainly used for the analysis of the strength of the trend. Finally, MACD is also a concussion index, and relative strength index RSI different is, MACD did not shake the upper or lower limit.') ?>
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      ●&nbsp;<strong><?php echo __('Rule 1:MACD crossing signal') ?></strong>
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      <?php echo __('Rule 1: cross when MACD express the crosses the slow line "金叉", formed when buying more.') ?><br>
      <?php echo __('Rule 2: cross when MACD express from up to down through the slow line formed the "miner", short selling.') ?>
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      ●&nbsp;<?php echo __('Rule 2:MACD across the midline') ?>
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      <?php echo __('The CD index is a center line, or 0 line.') ?><br>
      <?php echo __('Rule 1: when the MACD line from the bottom up through the midline of the word, means that the rising trend, buying more.') ?><br>
      <?php echo __('Rule 2: when the MACD line from top to bottom through the midline of the word, means a falling trend, selling short.') ?>
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      ●&nbsp;<?php echo __('Rule 3: call / column bearish divergence') ?>
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      <?php echo __('Rule 1: histogram bullish divergence means that prices may rise.') ?><br>
      <?php echo __('Rule 2: histogram bearish divergence means that prices may fall.') ?>
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      <?php echo __('Here to hit a new low, but at the same time, MACD histogram has the second lowest than the previous low, which formed the "from the end" or "bullish divergence".') ?>
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      ●&nbsp;<?php echo __('The use of techniques') ?>
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      <?php echo __('In the use of the MACD index, some skills are noteworthy:') ?><br>
      <?php echo __('Tip 1: bullish signal uptrend is stronger than the side signal.') ?><br>
      <?php echo __('Tip 2: down Sicha signal trend is stronger than the golden crossing signal.') ?>
    </p>
    <a name="a3"></a>

    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      <strong style="margin:0px;padding:0px;outline:0px;"><?php echo __('3) RSI') ?></strong>
    </p>

    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      <?php echo __('Relative Strength Index, By J. Welles Wilder in a 1978 publication of "New Concepts in Technical Trading Systems", RSI became the momentum of technical analysis indicators in one of the most popular index. The index for a certain period of time (such as 7 days, or 14 days) to measure price changes are compared, then a is located between 0 to 100 numbers, so as to predict the future price movements. In his book, Wilder recommends the use of 14 as the comparison period.') ?>
    </p>

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      <br>
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    <p>
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    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      ●&nbsp;<?php echo __('Overbought and oversold') ?>
    </p>

    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      <?php echo __('The value of RSI change in 1 - 100, if RSI value higher than 70 indicate overbought, oversold below 30 means. RSI only considers a single financial instrument itself in a specific period, not with other financial instruments at the same performance comparison.') ?>
    </p>

    <p style="margin-top:0px;margin-bottom:0px;margin-left:10px;padding:10px 0px;outline:0px;">
      <img src="/images/study3_12.jpg" style="margin:0px;padding:0px;outline:0px;">
    </p>

    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      ●&nbsp;<?php echo __('Deviation') ?>
    </p>

    <p style="margin-top:0px;margin-bottom:0px;margin-left:10px;padding:10px 0px;outline:0px;">
      <?php echo __('Divergences between price and RSI can also be regarded as the trading signals. Deviation is divided into a bearish divergence and bullish divergence of two, also known as the "departure from the top" and "bottom divergence".The important concept of deviation of trading:') ?><br style="margin:0px;padding:0px;outline:0px;">
      <?php echo __('HH:Higher High, than the previous high high high') ?><br>
      <?php echo __('LH:Lower High, than the previous high low high') ?><br>
      <?php echo __('LL:Lower Low, than the previous low lows') ?><br>
      <?php echo __('HL:Higher Low, than the previous low high low') ?><br>
      <br style="margin:0px;padding:0px;outline:0px;">
      <?php echo __('A bearish divergence or departure from the top: in the rising trend, when prices have high HH, however, RSI index lost energy prices, LH, which is regarded as the signal to reverse the decline, if the RSI index in the overbought area, the down stronger signal.') ?><br>
      <?php echo __('A bullish divergence or bottom divergence: in the trend of decline in prices, when compared to the previous low out of low LL, while the RSI index is out of the high HL, which is regarded as the inversion rising signal, if the RSI index in oversold area, the higher stronger signal.') ?>
    </p>

    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      <?php echo __('Departure from the top:') ?>
    </p>

    <p style="margin-top:0px;margin-bottom:0px;margin-left:10px;padding:10px 0px;outline:0px;">
      <img src="/images/study3_15.jpg" style="margin:0px;padding:0px;outline:0px;">
    </p>
    <a name="a4"></a>

    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      <strong style="margin:0px;padding:0px;outline:0px;"><?php echo __('4) Bollinger Bands') ?></strong>
    </p>

    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      <?php echo __('Bollinger Bands by John Bollinger John Bullinger invention. The relative price level using the Bollinger Bands allowed investors compare prices over a period of time and price fluctuation of price.') ?><br>
      <?php echo __('The invention of Bollinger Bands is based on the percentage of the channel. However, using the fixed percentage and the percentage of the channel is different, Bollinger Bands are using the standard deviation of Standard Deviation, so that better reflect price fluctuations. Standard deviation of Standard Deviation is a measure of price fluctuation statistics unit. The standard deviation for the price fluctuation of rapid response and amplitude response bid price volatility, sharp fluctuations in the price of the price rise or fall will cause the amplitude.') ?><br>
      <?php echo __('Bollinger Bands reflect the main trend of prices by three track:') ?>
    </p>

    <div style="white-space:nowrap;">
    </div>
    <?php echo __('A: a simple moving average line is located in the middle of rail') ?><br>
    <?php echo __('B: a rail (by the simple moving average and standard deviation)') ?><br>
    <?php echo __('C: a lower rail (by the simple moving average minus 2 standard deviation)') ?>
    <p>
      <br>
    </p>

    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      ●&nbsp;<?php echo __('That began a sharp fluctuation') ?>
    </p>

    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      <?php echo __('When brin channel narrowed that the current price fluctuation amplitude was reduced, however in this case also means that the larger the amplitude may be about to begin. But the need to pay attention to is, volatility Bollinger Bands cannot predict the direction of.') ?>
    </p>

    <p style="margin-top:0px;margin-bottom:0px;margin-left:10px;padding:10px 0px;outline:0px;">
      <img src="/images/study3_18.jpg" style="margin:0px;padding:0px;outline:0px;">
    </p>

    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      <?php echo __('Please note that the ATR (Average True Range) index, between 6 and July the Australian hovering between 1.04-1.08, the poly plus channel narrowing, between 8 and October ATR significantly enlarged, volatility.') ?>
    </p>

    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      ●&nbsp;<?php echo __('A trading range and range breakout') ?>
    </p>

    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      <?php echo __('Because of the Bollinger Bands on the rail and a lower rail using a moving average standard deviation, and standard in the financial analysis of variance was used for the calculation of Volatility volatility, therefore Bollinger Bands can be used for interval trading method, to determine the upper and lower bounds of the transaction.') ?>
    </p>

    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      <?php echo __('Despite not being able to use the square of the trading range, Bollinger Bands was given the trading signals obvious:') ?>
      <br style="margin:0px;padding:0px;outline:0px;">
      <?php echo __('A: when prices rise to brin channel rail, as a sell signal') ?><br>
      <?php echo __('B: when the price dropped to brin channel rail, as a buy signal') ?><br>
      <?php echo __('C: when prices break out of the upper channel line or the lower track, regarded as interval is broken') ?>
    </p>

    <p style="margin-top:0px;margin-bottom:0px;padding:10px 0px;outline:0px;">
      ●&nbsp;<?php echo __('Summary') ?>
    </p>

    <p style="margin-top:0px;margin-bottom:0px;margin-left:10px;padding:10px 0px;outline:0px;">
      <?php echo __('Even if the Bollinger Bands are long or short signal, but it cant give the bid price trend direction in the future. Usually the Bollinger Bands is to assist the other technical analysis indicators. If the only concern itself, Bollinger Bands are the three main features:') ?><br>
      <?php echo __('A: to determine whether the price price fluctuations in the period of large or small (wide brin channel)') ?><br>
      <?php echo __('B: sure. The price is in a choppy trading period') ?><br>
    </p>

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